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You liked the script? Try it in the MetaTrader 5 terminal
Volatility adjusted WPR - indicator for MetaTrader 5
- Views:
- 7011
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- Published:
- 2018.10.17 22:53
- Updated:
- 2018.10.19 12:21
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This is volatility adjusted WPR (Williams Percent Range). Volatility used for adjusting is the "simple volatility" (no need for it, it is already incorporated in the code of this indicator)
There are 2 deviations compared to original WPR:
- in order to display histogram in a simple way (without usage of 2 extra buffers), the value of WPR is shifted by +50 (ie: up)
- smoothing is added (WPR is known for being "nervous" - this version can use low lag smoothing to smooth the results up. To turn the smoothing off, set the smoothing period to be less than or equal to 1)
PS: an example why the smoothing seems to be necessary for WPR. 3 instances of WPR :
- top most - the smoothed volatility adjusted
- middle - volatility adjusted without smoothing
- lowest - "regular" WPR
Directional smoothed momentum
Directional smoothed momentum (momentum of averages)
Hull levelsHull levels